13D Filing: Corvex Capital and Centurylink Inc (CTL)

In addition, on October 20, 2017, the previously reported over-the-counter market American-style put options
referencing an aggregate of 4,000,000 Shares that had an exercise price of $22 per Share that were sold by Corvex were exercised by the counterparty and the Reporting Persons acquired beneficial ownership of the Shares underlying the options.

The call options referenced above include the previously reported over-the-counter market American-style call options referencing an aggregate of 5,000,000
Shares, which have an exercise price of $23 per Share and expire on January 19, 2018. In addition, on October 20, 2017, Corvex acquired listed American-style call options referencing an aggregate of 6,000,000 Shares, 2,000,000 of which
have an exercise price of $20 per Share and expire on November 17, 2017, 2,000,000 of which have an exercise price of $21 per Share and expire on January 19, 2018 and 2,000,000 of which have an exercise price of $22 per Share and expire on
January 19, 2018.

(c) Except as set forth in this Item 5 and Exhibit 5 attached hereto, there have been no transactions in the Shares
during the sixty days prior to the date hereof by any of the Reporting Persons.

(d) The limited partners of (or investors in) each of the private
investment funds for which Corvex or its affiliates acts as general partner and/or investment adviser have the right to participate in the receipt of dividends from, or proceeds from the sale of, the Shares held for the accounts of their respective
funds in accordance with their respective limited partnership interests (or investment percentages) in their respective funds.

Item 7. Material to be Filed as Exhibits

Exhibit 5 Transactions in the Shares effected in the past 60 days